# The Original Sofa Co Limited (05682213)

> Why UK company 05682213 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05682213

- **Status:** Administration ended
- **Administration began:** 2016-10-24
- **Administrators:** Howard Smith, Jonathan Charles Marston
- **Administrators' firm:** KPMG
- **Incorporated:** 2006-01-20
- **Location:** Newcastle-upon-Tyne
- **Industry:** 47599 Retail of furniture, lighting, and similar (not musical instruments or scores) in specialised store

## Why it went into administration

- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
- Funding withdrawn / unable to refinance

## From the administrators' statement

The Company was incorporated on 19 January 2006, it commenced trading shortly afterwards The Company's principal business activities were the manufacture and retail of luxury upholstered furniture

The Company had five employees, the Company traded from premises at the Team Valley Industral Estate, Gateshead, and on Sloane Street, London 2.2. Funding and financial position of the Company

The Company was financed with unsecured loans from NEL Fund Managers Limited and the North East Growth Fund, together with loans from Funding Circle Limited and the Director, HSBC Bank pic also provided an unsecured overdraft facility There was no secured lending provided to the Company

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05682213/filing-history/MzE2NTU1MzgxM2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05682213

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.